Saudi Arabia exploring blockchain and CBDC to reduce cash usage
Saudi Arabia Monetary Authority has been active in CBDC research as it seeks to digitize payments, although it has no intention of completely curbing cash use.
Latest Saudi Arabian Monetary Authority News
Saudi Arabia bans crypto over ‘high risks,’ ‘negative consequences’
The Kingdom of Saudi Arabia has made cryptocurrencies illegal by diktat, following a change in the law designed to protect residents from engaging in crypto transactions.